U.S. State Securities Regulator Lays Into Bitcoin With a Vengeance
Massachusetts’ top securities regulator doesn’t like Bitcoin, and he made that crystal clear during an interview Wednesday. Massachusetts Secretary of the Commonwealth William Galvin didn’t mince words in discussing his displeasure with Bitcoin on Wednesday. While he stopped short of calling the cryptocurrency a fraud, what he did say could prompt one to think they were listening to Jamie Dimon. It should also put Bitcoin traders on further notice about the increasing number of government officials that are watching the crypto, and are looking for ways to regulate it. Galvin appeared on CNBC late Wednesday and laid into Bitcoin with a vengeance. Despite the cryptocurrency’s rapid climb this year, and it being able to attract the likes of the Cboe and the CME, Galvin is unimpressed. “[Bitcoin] doesn’t pass the smell test. There’s no product here; this is entirely speculative. That’s already been proven by its wild gyrations in value.” Wild ride equals bubble? ...